Waterloo Residences Budget Planning Overview 2018/19 Fiscal Year

Residence Budget Planning 2018/19 Fiscal year

Think, Pair, Share 1. What facts do you have about the Waterloo Residences budget? 2. What assumptions are you making about the budget?

Purpose Learning opportunity Awareness & comparison opportunity Legal responsibility to consult on major decisions Influence budget planning & allocation

Context

Local history of student housing

Our Mission The reason we exist To foster meaningful growth and learning opportunities by providing a safe, accessible, clean and supportive home where all students succeed personally and academically.

Our Vision What we want to be Our aim is to clearly demonstrate that students living in residence will academically outperform their off-campus peers.

Organization Glen Weppler Director of Housing Alex Piticco Assistant Director, Student Development and Residence Life Maya D Alessio Project Manager, Strategic Initiatives & Continuous Improvement Jennifer Ferguson Assistant Director, Admissions and Marketing Mike Iley Assistant Director, Residence Facilities Sherry Kihut Manager, Business Systems Danielle Burt Project Manager, Strategic Initiatives & Assessment Christy Elliot Manager, Housing Finance Malorie Glyde Accounting and Data Specialist Student Development and Residence Life Group Admissions and Marketing Group Barb Heppler Functional User Analyst Residence Facilities Group

Context 3rd largest Canadian campus housing operation 5,787 beds 80% of 1st year students live in residence $35 million in annual revenue 2.1 million square feet ~350 staff (~100 full-time & ~250 student roles) V1 opened in 1965

Our foundation Own FY market Proximity Part of UW Decades of history Campus partners New residence Evidence Team culture

The changing landscape Competition Need to market residence experience Aging buildings Mental health Speed of sharing information Online education Expectations rising Parental involvement

The local state of student housing

Times are changing... image image image

Benefits offered off-campus Fully-furnished units Ensuite bathrooms Granite countertops Incentives to sign lease Free month rent Free big screen TV Free internet Source: http://www.rez-one.ca/why-choose-rez-one/

Supply/Demand study finding 1,060 Potential surplus of housing beds

Choices Students in Waterloo have more choice in where to live than anywhere else in Canada.

Comparing features Fee per term Discount OCH UW Residence Premium OCH ~ $ per term $2,200 $2,600 $3,200 12-mo lease req d Most Most Housekeeping X Utilities included Some X Some Close to class X Internet included X IT support service X Public common space X X Floor common areas X Organized events X Meals available X Gym, study room, etc X X 24-hour security X X Tutoring available X 300+ Job opportunities X

Our focus is your learning

Our Building Missions Our students Student Development & Residence Life Marketing & Admissions Residence Facilities Office of the Director of Housing

Residence is different because Dons / Residence Life Program Velocity Partnership (WERC, Residence, Problem Pitch) Living-Learning Program Academic partnerships Coop-LLC Life After Graduation Learning does not happen by chance!

The evidence

Think, Pair, Share 1. How do you measure the value you get from residence?

General research findings Extracurricular activities participation Perception of campus social climate Satisfaction w PSE experience Personal growth and development Frequency of peer/faculty interactions Persistence to graduation Source: How College Affects Students, 2005

Value of Residence Research Findings Source: https://forum.academica.ca/forum/good-news-for- the-champions-of-on-campus-housing

Retention rate at UW Table 1 Difference in retention rates of subgroups (of those who first registered for study in a term between academic years 2005/2006 and 2010/2011) Retention Rate Housing Not in Housing Difference (% points) 6.3 Statistically Different Yes Subgroup Overall Applied Health Science Arts Engineering Environment Mathematics Science Male Female Domestic International 93.4% 87.1% 93.7% 92.1% 1.6 No 91.1% 84.9% 6.2 Yes 94.3% 93.5% 0.8 Yes 92.1% 90.5% 1.6 No 94.2% 76.7% 17.5 Yes 93.3% 91.3% 2.0 Yes 93.3% 87.4% 5.9 Yes 93.5% 86.8% 6.7 Yes 93.6% 90.0% 3.6 Yes 90.6% 60.0% 30.6 Yes

Overall Impact Does living on-campus positively impact a students decision to return to University? According to most students yes!

High Impact Practices: Dons We hire and train amazing Dons that students appreciate:

High Impact Practices: LLC The Co-op Living Learning Community aids students through the co-op process: Engineers who reported they ARE in co-op LLC: Engineers who reported they are NOT in LLC:

The importance of personal interactions Not in LLC: In LLC:

What did you identify as items you value? Anything different?

Financial Highlights

True or False? 1. The residence makes a profit for the university. 2. The biggest expense item for residence is salaries/benefits. 3. The occupancy rate has declined over the last decade. 4. The residence has never planned a deficit budget. 5. Living on-campus costs more than living off-campus.

Realities & Principles 98% of revenue from residence fees Designed to break-even financially. Including: Debt payments Capital renewal Must be financially sustainable over time Not a profit-centre for the university University contributes no funds to residence

Occupancy Trend by Term from 2006-2017 6000 5000 4000 Axis Title 3000 2000 1000 0 2006 2007 2008 2009 2010 2011 2012 2013 2014 2015 2016 2017 Fall 5113 5266 5086 5073 5122 5186 5228 5503 5250 5200 5308 5531 Winter 4861 4999 5092 4958 4956 4978 4926 4910 5082 4702 4604 4662 Spring 1631 489 1925 1731 1528 1423 1442 1281 1164 1043 1094 983

UW Residence Fee % Change vs Key Comparators 6.0% 5.0% 4.0% % Change 3.0% 2.0% 1.0% 0.0% 05-06 06-07 07-08 08-09 09-10 10-11 11-12 12-13 13-14 14-15 15-16 16-17 17-18 18-19 UW Res Fee % Change 5.0% 4.0% 4.0% 5.0% 3.0% 3.0% 3.0% 3.0% 2.5% 3.0% 3.5% 3.5% 2.5% 1.8% Ontario Rent Increase Guideline 1.5% 2.1% 2.6% 1.4% 1.8% 2.1% 0.7% 3.1% 2.5% 0.8% 1.6% 2.0% 1.5% 1.8% CPI Shelter Ontario % Change 3.2% 3.2% 1.7% 3.5% 0.2% 2.3% 1.5% 1.5% 1.5% 3.6% 2.3% 2.7% Ontario University Average Increase 3.9% 3.7% 3.3% 3.0% 2.9%

Residence Fees by Building, Room, Year & Month 1/8th of 17/18 fee 1/8th of 18/19 fee Residence Room Type 17/18 Fee 18/19 Fee V1 / REV Single $ 6,324 $ 6,437 $ 791 $ 805 Interconnecting 6,036 6,144 755 768 Double 5,673 5,775 710 722 Triple -- 4,620 -- 578 Quad -- 3,754 -- 469 MKV Single 4b suite 7,549 7,684 944 961 Minota Hagey Single 1 term 3,297 3,356 825 839 CMH Single 6,936 7,061 867 883 Double 6,611 6,730 827 841 Triple -- 5,384 -- 673 Quad -- 4,375 -- 547 UWP Single 2b suite 6,822 6,945 853 868 Single 3/4b 6,457 6,573 807 822 Double (Beck) 5,958 6,065 745 758 CLV Single 1t, 2b town 3,014 3,068 754 767 Single 2t, 4b town 6,031 6,140 754 768 Family, monthly 1,260 1,283 n/a n/a

Proposed Budget vs Approved & Actual Budgets Proposed 2018/19 (000's) Budget 2017/18 (000's) Actual 2016/17 (000's) Increase/ Decrease (000's) Increase/ Decrease % Income Residence Fee income $ 35,677 $ 35,513 $ 34,087 $ 164 Other income $ 717 $ 536 $ 921 $ 181 Total income $ 36,394 $ 36,049 $ 35,008 $ 345 0.5% 33.8% 1.0% Expenses Variable Salaries & Benefits $ 9,421 $ 9,180 $ 7,279 $ 241 Consulting & Contracted Services $ 1,506 $ 1,801 $ 1,372 $ (295) Computer & Network $ 190 $ 949 $ 358 $ (759) Capital Projects $ 5,226 $ 3,223 $ 1,984 $ 2,003 Supplies & Misc. $ 2,073 $ 2,245 $ 1,962 $ (172) Furniture & Equipment $ 1,352 $ 1,013 $ 646 $ 339 Repair & Maintenance $ 448 $ 530 $ 443 $ (82) IST $ 1,691 $ 1,804 $ 1,512 $ (113) PO Capital Management $ 357 $ - $ - $ 357 Other $ 794 $ 747 $ 1,182 $ 47 $ 23,058 $ 21,493 $ 16,738 $ 1,565 2.6% -16.4% -80.0% 62.1% -7.7% 33.4% -15.5% -6.3% 6.3% 7.3% Fixed Capital Debt Retirement $ 4,414 $ 5,016 $ 2,690 $ (602) Rentals & Leasing $ 2,755 $ 2,709 $ 2,651 $ 46 Utilities $ 3,971 $ 3,736 $ 3,272 $ 235 University Maintenance $ 3,930 $ 4,126 $ 3,449 $ (196) Insurance $ 174 $ 170 $ 149 $ 4 $ 15,244 $ 15,757 $ 12,211 $ (513) -12.0% 1.7% 6.3% -4.8% 2.4% -3.3% Total expenses $ 38,302 $ 37,250 $ 28,949 $ 1,052 2.8% Surplus $ (1,908) $ (1,201) $ 6,059

Question? Glen Weppler, Director of Housing glen.weppler@uwaterloo.ca 519-888-4567 x32899